peHUB First Read

Cofee* Yet another Op-Ed telling us, among other things, that venture capitalists are “paralyzed” and how “marquee venture capitalists have little time nor inclination anymore to invest seed capital in early stage companies.” This one is in the WSJ, and was written by Tom Hayes and Michael Malone. Not only are the authors wrong about the two aforementioned statements, they also incorrectly assert that SOX is the reason that promising VC-backed companies aren’t going public today. Yes, SOX increases the cost of going public, but a few million dollars won’t dissuade a company that can make triple-digit millions via an IPO. The real problem is a lack of public market buyers for almost any IPO, whether it be a VC-backed tech or an established, revenue-generating company (just ask buyout shops with pipelines of IPO-ready companies). The IPO market is dead because it’s missing half of it’s supply/demand equation — not because of an accounting rule.

* Roger Ehrenberg on Citi: The difference between drama and dramatic action.

* Morning Call: U.S. futures are mixed, European shares fall on financials and autos, the Nikkei drops 1.5% and Hong Kong drops by nearly 3 percent.

* Demise of the poison pill?

* Medtronic juices the VC-backed exit market: $700m+ for CoreValve, and $325m for Ventor Technologies.

* Apax Partners has sold a 7.7% stake in its management company to Singapore’s GIC and Australia’s Future Fund. It’s also in negotiations to sell a bit more to an undisclosed Japanese investor. So much for the notion that these stake sales were a bubble outgrowth… On the other hand, we don’t know how high/low Apax had to value itself.

* The 25 most valuable blogs. No, peHUB didn’t get any love.

* Beware of “charities” asking for money outside of your local supermarket (particularly outside Stop ‘n Shops in MA). Seems the stores don’t necessarily do their due diligence.

* Google shakes up its philanthropic division, which also doubles as a venture capital division.

* Carl Icahn: A Magna Carta for corporate America.

* Receiver to politicians: Return those Allen Stanford contributions.

* Has the Internet bacon fetish become passé? The Big Money thinks so: